Now that EMU is here and likely to stay, the "second generation" of research is under way. This volume presents a significant sample of that research and explores questions such as: How do central bankers who used to run their own banks now melt into a single pot? Are labour markets going to shape up? Is the euro becoming a world currency?

The rise of Asia, and China specifically, is the single most important force reshaping the world economy at the beginning of the 21st century. From a low of 20 per cent in 1950, Asia's share of global GDP has now risen to 33 per cent and will exceed 40 per cent within a generation if current forecasts are realized. Asia's growing weight in the world economy is elevating it to a central position in global economic and financial affairs. The potential global impact of this astonishing growth is far reaching, from oil markets and the environment to a reshaping of trade relations in the current...

This book looks at East Asia's monetary and financial integration from both Asian and European perspectives. It analyzes the Euro area's framework for monetary policy implementation, introduced in 1999. It reviews the efforts to foster regional monetary and financial integration and relates them to Europe's own evolution. It highlights successes and failures in both cases and offers a careful assessment of the state of play. A central theme of the volume is that the East Asian reliance on markets is not enough to promote the kind of deep integration that Europe has achieved and that provides...

Hungary: Towards a Market Economy is the latest in the successful sequence of volumes on major topics in international economics published under the auspices of the Centre for Economic Policy Research. This volume offers the most recent and up-to-date assessment of the Hungarian economy, combining intimate local knowledge with up-to-date modes of economic analysis. It will be of interest to all those following the process of economic transition, whether academic researchers, students, policy-makers or analysts.

Over the last 30 years, Economic Policy has strived to produce policy relevant and rigorous analyses of the economic challenges of the time. A number of articles have been highly influential, shaping thinking among academic economists and policymakers. This volume brings together key historic articles that still resonate today. It provides academics with important research markers, and also provides students (and their teachers) with a 'reader' that demonstrates how the field of economics progresses by responding to challenges of the time. It will also inspire a new generation of students and...